cryptonews.net
Lookonchain reported that a wallet “possibly” linked to Tron founder Justin SUN made $3.3 mln from the loss of the USD Coin ($USDC) peg on March 11. According to Lookonchain, address 0xbcb7 withdrew 50 mln $USDC from Aave after the stablecoin lost its peg. The address then exchanged those $USDC for $DAI at a 1:1 ratio and also withdrew over 30 mln $USDC from Binance to be exchanged for $DAI.
This same address later withdrew 214.9 mln $USDT from Binance and swapped 100 mln of it for 103.3 mln $USDC. The address also exchanged 75 mln $USDT for 75.5 mln $DAI before swapping $USDC for $DAI. As $USDC recovers its peg, the address exchanged 30 mln $DAI for 30 mln $USDC while buying 20 mln $USDC for 20 mln $USDT. Then all 50 mln $USDC were sent to the new address 0x30Dff. 100 mln $USDC was transferred to address 0x30Dff and 150 mln $USDC was transferred to Coinbase, most likely to be converted into USD.
